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CCAC Newsletter
May 2022

Monthly Membership Meeting
Breakfast, Tuesday, May 17, 8:00 to 9:30 am
Hosted by SmithGroup 

The Big Successes in Attracting Major Corporate Investment in Chicago:
a Conversation with Michael Fassnacht

President & CEO of World Business Chicago


Join CCAC at our next monthly meeting to hear from Michael Fassnacht, President & CEO of World Business Chicago, and Chief Marketing Officer of The City of Chicago.
Michael spends the majority of his time working to attract major business investments in Chicago. He will discuss the significant successes the city has achieved over the last two years – both by bringing new companies to Chicago as well as working to increase the operations of those already here.
To register, please click on rsvp@ccac.org and send your RSVP email.  Be sure to include your name and CCAC member organization. Please note, this is a CCAC members-only event.

A Conversation with Michael Fassnacht 
President & CEO of World Business Chicago

Tuesday, May 17, 8:00 to 9:30 am 
Woman's Athletic Club of Chicago
626 N. Michigan Avenue

Special thanks to CCAC Members Rana Lee and Matt Dumich of SmithGroup for hosting this event.
Click Here to Register for the May 17 Breakfast

April Member Meeting Highlights
CCAC Past Executive Committee Member & Perkins&Will's Gina Berndt

The State of Real Estate in Chicago
Hosted by Perkins&Will


Over 40 CCAC members came together for "The State of Real Estate in Chicago" April 12, 2022 at the offices of Perkins& Will in the Wrigley Building. 
Attendees heard perspectives from experts in several sectors of Chicago real estate, including: major office buildings and leasing, mid-market sales, the hotel market and residential investment and sales.
Farzin Parang, Executive Director, Building Owners and Managers Association of Chicago, gave an intriguing presentation on the numbers for office leases, vacancy rates and trends. Greenstone Partners Director and CCAC Burnham Council Board Member Malek Abulsamad provided an overview of the market for mid-market properties. Chicago Association of REALTORS® President and A.R.E. Partners Designated Managing Broker Antje Gehrken talked about the booming residential market. HVS Chicago Managing Director Stacey Nadolny discussed the challenges and opportunities for the hotel market today.
Thanks to Farzin, Malek, Antje, and Stacey for an enlightening discussion and to the audience for the insightful questions.
Special thanks as well to Gina Berndt, outgoing CCAC Executive Committee Member and Perkins&Will's Global Chief Marketing Officer, for moderating this discussion and hosting the event. We are excited to see Gina's colleague Tom Kasznia at Perkins&Will take up the torch on the CCAC Executive Committee.
From left to right, Farzin Parang, Stacey Nadolny, Antje Gehkren, Malek Abulsamad, and Gina Berndt

Whole Foods to Leave Englewood

an Interesting Perspective from

the Developer, Leon Walker
CCAC Board Member Leon Walker on FOX 32 Chicago
With the announcement that Whole Foods will be vacating its celebrated location in Englewood on Chicago’s South Side, the press has been abuzz with comments, opinions and ideas. Click here or on the image above to hear the perspective of Leon Walker of DL3 Realty, developer of the Whole Foods site and CCAC Executive Committee member.
American Institute of Architects Election for 2024 President
CCAC Executive Committee Member Kimberly Dowdell
Kimberly Dowdell, CCAC Executive Committee Member and HOK Principal, certified as one of two candidates for AIA president -- the election is in June.
AIA members across the globe will elect their 2023 First Vice President/2024 President-Elect through their delegates who will vote at the AIA business meeting June 10-14. The AIA Conference of Architecture 2022 (A'22) will be held in Chicago June 21-25.
Known as a professional with a passion for creating remarkable places where people can sustainably flourish and thrive, Kim’s hometown of Detroit and adopted home of Chicago would be proud to see her elected.
Belmont Triangle Project Announced
As part of our ongoing partnership, CCAC is working withon an RFP project for the redevelopment of Avondale’s “Belmont Triangle.” This rather large parcel bordered by Belmont Ave., Milwaukee Ave. and Pulaski Rd. was identified by the 30th Ward Alderman Ariel Reboyras as an inmportant catalytic opportunity for the neighborhood. After a complete analysis by DPD, CCAC assembled a team of members to develop the RFP on a pro-bono basis. 
The team includes:
  • Byrnes & Walsh Evanluations
  • Chicago Title Insurance Company
  • Design Workshop (Co-Team Leader)
  • HNTB (Co-Team Leader)
  • JGMA
  • Near North Title Group
DPD and CCAC co-hosted a virtual neighborhood kick-off meeting with Ald. Ariel Reboyras (30th) on Thursday, April 28. The meeting was an informational session that outlined the process, reviewed existing conditions and introduced the timeline. 
This process will continue through the spring and include a survey and other public engagement opportunities to identify viable options for future uses and new construction.
The Belmont Triangle project was inspired by the work of the INVEST South/West program and the organic development that the ISW projects have spawned in those neighborhoods. More to come on this project and the positive results that are sure to follow.
Save the Date

May 25, 2022, 3:30 to 5:00 pm, Members-Only Burnham Council Salesforce Tower Chicago Tour; this is a rescheduled date from earlier in May.

June 7, 2022, 3:00 to 5:00 pm, CCAC June Member Meeting at Lincoln Yards.


July 12, 2022, 3:00 to 5:00 pm, CCAC July Member Meeting at Herman Miller West Loop; in conjunction with The Hoan Group from Milwaukee and One Region NWI from Northwest Indiana.


Please watch for more information by email and please note that the June meeting is off of the regular “second Tuesday” schedule and both events are off of the regular lunch timeframe. All monthly meetings and tours are Members-Only. 
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Chicago Central Area Committee (CCAC)
161 North Clark Street, Suite 4300, Chicago, IL 60601
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